The Startup Challenging Ticketmaster and StubHub

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March 3 (Bloomberg) -- Andrew Dreskin, co-founder and CEO of Ticketfly, discusses where there's room for innovation in the ticketing sector. He speaks with Cory Johnson on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Room for innovation in your sector.


There's tremendous room in the ticketing sect there.

To get -- sector.

Ticket sellers have not historically had had tools to help them get more tickets.

Ticket sellers today are offering better technology for the venues.

Traditional ticket sellers traditionally just offer ticketing software.

Today they offer website tools, it e-mail, marketing tools, social tools, analytics, crm, that sort of thing which helps them to sell more tickets more effectively.

Talk to me specifically about that.

Take an event like burning man.

What kind of information are you offering the promoters of burning man.

What kind of things did they want to know?

Burning man may not be a fantastic example.

A burning man tickets sell rather quickly.

We recently sold 30,000 tickets in a matter of 44 minutes.

I will say that it was very gratifying to see the feedback on social media about how the ticket selling process was more fluid than historically.

For other event promoters, the ticket buyer has been rather opaque.

Then use the promoters have had not get access to who these event knowers are.

There are maven to go to tons of shows who are prolific users of social media.

Ticketfly helps the venues and promoters like that to better harness or channel those ticket sellers.

This whole thing with load balancing, do you see the behavior of the sellers of tickets who want to identify someone that they really wanted their show because they will have more of an impact on social media and offer the person to per ticket?


We call them mavens.

We know they are users who are buying tons and tons of tickets.

We find that 30% of the users drive a tremendous portion of the ticket sales.

A big goal is to incentivize those people to continue with this fantastic behavior and report them for the positive behavior on social media.

Talk to me about market share.

Who are the leaders?

The dominant player is ticketmaster.

As i mentioned earlier, one difference between us and traditional ticket sellers, we tell them we are not a ticketing company.

We are a holistic ethnology solutions provider.

One thing we do is dictating -- ticketing and we do it quite well.

This is one difference between us and ticketmaster.

I think there is an opportunity for upstarts like ours to really eat into the market share of the incumbent providers.

Holistic technology.

I think you should add acupuncture.

Let me ask about concerts and the date shows.

Are these the festival tors.

Are these of increasing importance?

One is the festival market.

There are number of notable festivals which take place in the united states.

This has put its tickets on sale.

It has sold out.

It has a big acts like archive -- like arcade fire.

I there's no daft punk on this year's coachella's festival.

It is a heartbreaker.

I will be ok.

Thank you for your time.

We really appreciate it.

What a bummer for you.

This text has been automatically generated. It may not be 100% accurate.


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